BECKER COLLEGE: Form 990, tax year 2020
View the entire original 990 at ProPublica ↗
- Organization
- BECKER COLLEGE (EIN 04-2108346)
- Tax period
- 2020-07-01 to 2021-06-30
- Filed
- 2022-05-13
- IRS object ID
- 202201339349302270
- Schema version
- 2020v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule I
- Schedule J
- Schedule K
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-05-13T08:51:22-05:00 | ReturnTs |
| Tax Period End | 2021-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 043037870 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOLLUS LYNCH LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 89 SHREWSBURY STREET | AddressLine1Txt |
| City | WORCESTER | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01604 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2020-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042108346 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BECKER COLLEGE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BECK | BusinessNameControlTxt |
| Phone | 5087919241 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 61 SEVER STREET | AddressLine1Txt |
| City | WORCESTER | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01609 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KEITH LOWEY | PersonNm |
| Person Title | CHIEF TRANSITION OFFICER | PersonTitleTxt |
| Phone | 5085431720 | PhoneNum |
| Signature | 2022-05-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | KEITH | PersonFirstNm |
| Person Last | LOWEY | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | BARBARA E KING | PreparerPersonNm |
| PTIN | P00005629 | PTIN |
| Phone | 5087557107 | PhoneNum |
| Preparation | 2022-05-13 | PreparationDt |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 2 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2020 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KEITH LOWEY | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 61 SEVER STREET | AddressLine1Txt |
| City | WORCESTER | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01609 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $70,638,999 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.BECKERCOLLEGE.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1784 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | BECKER COLLEGE PROVIDES ACADEMIC AND CAREER EDUCATION INTEGRATED WITH THE LIBERAL ARTS AND SCIENCES, WHICH LEADS TO THE AWARDING OF THE BACHELORS AND ASSOCIATE IN SCIENCE DEGREES. BACCALAUREATE DEGREE PROGRAMS BUILD ON THIS STRONG LIBERAL LEARNING AND CAREER KNOWLEDGE BASE WITH ADDITIONAL COURSES AND EDUCATIONAL EXPERIENCES. WITH THE COMPLETION OF THE DEGREE, GRADUATES ARE PREPARED TO ENTER THE WORK FORCE WITHIN THEIR CHOSEN CAREER OR CONTINUE THEIR EDUCATION. STUDENTS WHO COMPLETE A DEGREE PROGRAM ARE PREPARED TO ADVANCE IN THEIR PROFESSIONAL CAREERS. THROUGHOUT, OPPORTUNITIES FOR PERSONAL DEVELOPMENT ARE SUPPLEMENTED BY COLLEGE-SPONSORED ACTIVITIES, CULTURAL ENRICHMENT PROGRAMS, ATHLETICS AND COMMUNITY SERVICE PROJECTS. IN KEEPING WITH ITS MISSION, THE COLLEGE EXTENDS OPPORTUNITIES FOR EDUCATIONAL. PROFESSIONAL AND PERSONAL ADVANCEMENT THROUGH ITS ACCELERATED AND PROFESSIONAL STUDIES PROGRAMS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 14 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 14 | VotingMembersIndependentCnt |
| Total Employee | 712 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,706,249 | PYContributionsGrantsAmt |
| CY Contributions Grants | $6,432,199 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $65,641,784 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $56,857,080 | CYProgramServiceRevenueAmt |
| PY Investment Income | $123,392 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,337,295 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $68,471,425 | PYTotalRevenueAmt |
| CY Total Revenue | $64,626,574 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $26,387,766 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $26,731,897 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $21,194,112 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $19,133,552 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $767,065 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $21,789,113 | PYOtherExpensesAmt |
| CY Other Expenses | $18,921,077 | CYOtherExpensesAmt |
| PY Total Expenses | $69,370,991 | PYTotalExpensesAmt |
| CY Total Expenses | $64,786,526 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$899,566 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$159,952 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $47,781,132 | TotalAssetsBOYAmt |
| Total Assets EOY | $39,650,846 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $24,116,075 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $18,365,092 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $23,665,057 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $21,285,754 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | BECKER COLLEGE SERVES 1700 STUDENTS FROM 35 STATES AND 15 COUNTRIES AND OFFERS OVER 30 BACHELOR DEGREE PROGRAMS, 6 ASSOCIATE DEGREE PROGRAMS, AND 2 MASTERS DEGREE PROGRAMS IN UNIQUE, HIGH-DEMAND CAREER NICHES RANGING FROM NURSING AND EQUINE MANAGEMENT TO COMPUTER GAME DESIGN AND A VARIETY OF ADULT LEARNING OPTIONS. WITH CAMPUSES IN WORCESTER AND LEICESTER, MA., BECKER TRACES ITS HISTORY TO 1784 AND HAS OVER 20,000 ALUMNI. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | Yes (1) | SignificantChangeInd |
| Expense | $28,388,155 | ExpenseAmt |
| Grant | $26,731,897 | GrantAmt |
| Revenue | $26,731,897 | RevenueAmt |
| Desc | STUDENT FINANCIAL AID- FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, FEDERAL WORK STUDY PROGRAM, COLLEGE SCHOLARSHIPS AND TUITION REMISSION | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $8,459,488 | ExpenseAmt |
| Revenue | $27,310,594 | RevenueAmt |
| Desc | INSTRUCTIONAL - FACULTY, LIBRARY & EVENING DIVISION | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $6,395,294 | ExpenseAmt |
| Revenue | $697,215 | RevenueAmt |
| Desc | STUDENT SERVICES - REGISTRAR'S OFFICE, STUDENT SERVICE ADMINISTRATION, STUDENT SERVICES, ADMISSIONS AND FINANCIAL AID ADMINISTRATION | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $6,214,183 | ExpenseAmt |
| Revenue | $2,991,079 | RevenueAmt |
| Desc | AUXILIARY ENTERPRISES - DORMITORY, DINING HALLS, BOOKSTORE, STUDENT CENTER, ANIMAL HOSPITAL & CLINIC, DAYCARE CENTER, AND SNACKBAR | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $6,214,183 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $2,991,079 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $49,457,120 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | Yes (1) | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 67 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 712 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| DAF Excess Business Holdings | 0 | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | 0 | TaxableDistributionsInd |
| Distribution To Donor | 0 | DistributionToDonorInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 14 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 14 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RICHARD N NAYLOR | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 5083439453 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 61 SEVER STREET | AddressLine1Txt |
| City | WORCESTER | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01609 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (24 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd |
|---|---|---|---|---|---|---|---|
| CHRISTINE L CASSIDY | |||||||
| CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| CHERYL M LAPRIORE | |||||||
| VICE CHAIR | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JOHN H BUDD | |||||||
| SECRETARY | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| JOHN E GRAHAM | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| DANIEL A DELMASTRO | |||||||
| TREASURER | 2.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| DR GREGORY POGUE | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ANDREW M MAZUR | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| FRANCES E POLITO | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| EDWARD J WILSON | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| REBECCA B CROCKER | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| MICHAEL J CAVARETTA | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| JEFFREY A GOODSILL | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| SCOTT CONTI | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| ARTHUR DIGERONIMO | |||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| NANCY CRIMMIN | |||||||
| PRESIDENT | 37.50 | Yes (X) | $273,677 | $0 | $53,988 | ||
| DAVID A ELLIS | |||||||
| EXEC VP/CFO | 37.50 | Yes (X) | $211,989 | $0 | $17,988 | ||
| FRANK MILLERICK | |||||||
| VP OF STUDENT AFFAIRS | 37.50 | Yes (X) | $145,172 | $0 | $17,988 | ||
| JULIE BAILEY | |||||||
| DEAN OF ANIMAL STUDIES | 37.50 | Yes (X) | $104,717 | $0 | $11,905 | ||
| ALAN RITACCO | |||||||
| DEAN OF DESIGN | 37.50 | Yes (X) | $178,000 | $0 | $6,943 | ||
| AMBER VAILL | |||||||
| VP OF ACADEMICS | 37.50 | Yes (X) | $111,371 | $0 | $17,988 | ||
| MARY ELLEN MAHONEY | |||||||
| DEAN OF GPS | 37.50 | Yes (X) | $131,757 | $0 | $6,943 | ||
| JENNIFER LITCHFILED | |||||||
| ASST. DEAN OF NURSING | 37.50 | Yes (X) | $103,496 | $0 | $17,988 | ||
| LORITA WILLIAMS | |||||||
| VP OF DEVELOPMENT | 37.50 | Yes (X) | $196,000 | $0 | $6,943 | ||
| RICHARD NAYLOR | |||||||
| CONTROLLER | 37.50 | $153,023 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,609,202 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $158,674 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 13 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| SSC SERVICE SOLUTIONS | |||||
| PO BOX 417632 | BOSTON | MA | 02241 | MAINTENANCE/HOUSEKEEPING/GROUNDS VENDOR | $2,717,513 |
| CHARTWELLS | |||||
| 91337 COLLECTIONS DRIVE | CHICAGO | IL | 60693 | FOOD SERVICE VENDOR | $1,622,432 |
| ELLUCIAN | |||||
| 62590 COLLECTIONS CENTER DRIVE | CHICAGO | IL | 60693 | IT CONSULTANT | $1,277,446 |
| 21 FRUIT STREET REALTY TRUST | |||||
| 9 METCALF STREET | WORCESTER | MA | 01609 | LEASED PROPERTY LANDLORD | $467,446 |
| BOWDITCH & DEWEY | |||||
| 3311 MAIN STREET | WORCESTER | MA | 01615 | ATTORNEY | $358,183 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $5,187,754 | GovernmentGrantsAmt |
| All Other Contributions | $1,244,445 | AllOtherContributionsAmt |
| Total Contributions | $6,432,199 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (4 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| TUITION & FEES | 611310 | $53,987,503 | $53,987,503 |
| AUXILIARY ENTERPRISES | 611710 | $2,117,374 | $2,117,374 |
| STUDENT ACTIVITIES | 611710 | $697,215 | $697,215 |
| EDUCATIONAL SERVICES | 611710 | $54,988 | $54,988 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $56,857,080 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $83,566 | TotalRevenueColumnAmt |
| Exclusion | $83,566 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $6,163,402 | SecuritiesAmt |
| Other | $1,102,752 | OtherAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,783,378 | SecuritiesAmt |
| Other | $229,047 | OtherAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $380,024 | SecuritiesAmt |
| Other | $873,705 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,253,729 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $873,705 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $380,024 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $64,626,574 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $57,730,785 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $463,590 | ExclusionAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $26,731,897 | TotalAmt |
| Program Services | $26,731,897 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,142,407 | TotalAmt |
| Program Services | $10,717,249 | ProgramServicesAmt |
| Management And General | $3,860,260 | ManagementAndGeneralAmt |
| Fundraising | $564,898 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $603,619 | TotalAmt |
| Program Services | $290 | ProgramServicesAmt |
| Management And General | $603,329 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,314,136 | TotalAmt |
| Program Services | $1,349,894 | ProgramServicesAmt |
| Management And General | $896,527 | ManagementAndGeneralAmt |
| Fundraising | $67,715 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,073,390 | TotalAmt |
| Program Services | $775,769 | ProgramServicesAmt |
| Management And General | $259,446 | ManagementAndGeneralAmt |
| Fundraising | $38,175 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $800,683 | TotalAmt |
| Management And General | $800,683 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $412,729 | TotalAmt |
| Management And General | $412,729 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $60,543 | TotalAmt |
| Management And General | $60,543 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $620,203 | TotalAmt |
| Program Services | $82,945 | ProgramServicesAmt |
| Management And General | $530,296 | ManagementAndGeneralAmt |
| Fundraising | $6,962 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $104,257 | TotalAmt |
| Program Services | $81,070 | ProgramServicesAmt |
| Management And General | $23,187 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $713,998 | TotalAmt |
| Program Services | $482,454 | ProgramServicesAmt |
| Management And General | $219,079 | ManagementAndGeneralAmt |
| Fundraising | $12,465 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,911,443 | TotalAmt |
| Program Services | $2,071,624 | ProgramServicesAmt |
| Management And General | $827,460 | ManagementAndGeneralAmt |
| Fundraising | $12,359 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $69,897 | TotalAmt |
| Program Services | $56,350 | ProgramServicesAmt |
| Management And General | $13,547 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $651,980 | TotalAmt |
| Program Services | $245,459 | ProgramServicesAmt |
| Management And General | $406,521 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,441,119 | TotalAmt |
| Program Services | $1,868,840 | ProgramServicesAmt |
| Management And General | $549,388 | ManagementAndGeneralAmt |
| Fundraising | $22,891 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $710,933 | TotalAmt |
| Management And General | $710,933 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| OUTSIDE SERVICE VENDORS | $6,561,986 | $3,313,642 | $3,248,344 | |
| FOOD SERVICE | $1,623,194 | $1,623,194 | ||
| UNCOLLECTIBLE ACCOUNT E | $508,459 | $508,459 | ||
| OTHER EXPENSES | $406,871 | $56,443 | $308,828 | $41,600 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $322,782 | TotalAmt |
| Management And General | $322,782 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $64,786,526 | TotalAmt |
| Program Services | $49,457,120 | ProgramServicesAmt |
| Management And General | $14,562,341 | ManagementAndGeneralAmt |
| Fundraising | $767,065 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,596,749 | BOYAmt |
| EOY | $1,824,287 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $501,297 | BOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,605,374 | BOYAmt |
| EOY | $547,889 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,156 | BOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $16,985 | BOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $584,305 | BOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $0 | LandBldgEquipCostOrOtherBssAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,926,532 | BOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,676,172 | BOYAmt |
| EOY | $3,735,061 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,348,287 | BOYAmt |
| EOY | $1,395,814 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,477,275 | BOYAmt |
| EOY | $32,147,795 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,781,132 | BOYAmt |
| EOY | $39,650,846 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,563,287 | BOYAmt |
| EOY | $5,888,201 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,475,000 | BOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,356,551 | BOYAmt |
| EOY | $12,476,891 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,308,139 | BOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,413,098 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,116,075 | BOYAmt |
| EOY | $18,365,092 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,465,761 | BOYAmt |
| EOY | $16,768,599 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,199,296 | BOYAmt |
| EOY | $4,517,155 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,665,057 | BOYAmt |
| EOY | $21,285,754 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,781,132 | BOYAmt |
| EOY | $39,650,846 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | -$159,952 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $821,669 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$3,041,020 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School | Yes (X) | SchoolInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $4,262,923 | BeginningYearBalanceAmt |
| Contributions | $4,193 | ContributionsAmt |
| Investment Earnings Or Losses | $1,220,496 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $1,203,036 | OtherExpendituresAmt |
| End Year Balance | $4,284,576 | EndYearBalanceAmt |
CY Minus1 Yr Endwmt Fund CYMinus1YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $4,474,312 | BeginningYearBalanceAmt |
| Contributions | $108,558 | ContributionsAmt |
| Investment Earnings Or Losses | -$8,129 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $311,818 | OtherExpendituresAmt |
| End Year Balance | $4,262,923 | EndYearBalanceAmt |
CY Minus2 Yr Endwmt Fund CYMinus2YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $4,420,583 | BeginningYearBalanceAmt |
| Contributions | $63,467 | ContributionsAmt |
| Investment Earnings Or Losses | $321,605 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $331,343 | OtherExpendituresAmt |
| End Year Balance | $4,474,312 | EndYearBalanceAmt |
CY Minus3 Yr Endwmt Fund CYMinus3YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $4,417,638 | BeginningYearBalanceAmt |
| Contributions | $3,460 | ContributionsAmt |
| Investment Earnings Or Losses | $272,651 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $273,166 | OtherExpendituresAmt |
| End Year Balance | $4,420,583 | EndYearBalanceAmt |
CY Minus4 Yr Endwmt Fund CYMinus4YrEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Year Balance | $3,911,157 | BeginningYearBalanceAmt |
| Contributions | $133,333 | ContributionsAmt |
| Investment Earnings Or Losses | $539,876 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $166,728 | OtherExpendituresAmt |
| End Year Balance | $4,417,638 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Prmnnt Endowment Balance EOY | 1.00000 | PrmnntEndowmentBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| OTHER ASSETS | $15,942 |
| ASSETS HELD FOR SALE | $32,131,853 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $32,147,795 | TotalBookValueOtherAssetsAmt |
| Total Rev Etc Audited Fincl Stmt | $38,838,839 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $821,669 | NetUnrealizedGainsInvstAmt |
| Other Revenue | $183,036 | OtherRevenueAmt |
| Revenue Not Reported | $1,004,705 | RevenueNotReportedAmt |
| Revenue Subtotal | $37,834,134 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $60,543 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $26,731,897 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $26,792,440 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $64,626,574 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $41,218,142 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $3,224,056 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $3,224,056 | ExpensesNotReportedAmt |
| Expenses Subtotal | $37,994,086 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $60,543 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $26,731,897 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $26,792,440 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $64,786,526 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE COLLEGE'S ENDOWMENT CONSISTS OF INDIVIDUAL DONOR RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES DONOR RESTRICTED ENDOWMENT FUNDS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. ENDOWMENT FUNDS INCLUDE INVESTED GIFTS AND CASH. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE COLLEGE CLASSIFIES AS DONOR RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUNDS IS CLASSIFIED AS EXPENDABLE NET ASSETS WITH DONOR RESTRICTIONS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE COLLEGE IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE COLLEGE MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: THE DURATION AND PRESERVATION OF THE FUND; THE PURPOSES OF THE COLLEGE AND THE DONOR-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE COLLEGE; AND THE INVESTMENT POLICIES OF THE COLLEGE. THE COLLEGE HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD, THE ENDOWMENT ASSETS ARE INVESTED IN A PORTFOLIO OF DEBT AND EQUITY SECURITIES WITH THE OBJECTIVE OF ACHIEVING LONG-TERM CAPITAL APPRECIATION WHILE MODERATING THE LEVEL OF INVESTMENT RISK. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE COLLEGE RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST, DIVIDENDS AND NET RENTAL INCOME). THE COLLEGE HAS INVESTED IN DEBT AND EQUITY SECURITIES THAT TARGET A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE COLLEGE HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION, AS NEEDED, AMOUNTS FOR THE PURPOSES OF SCHOLARSHIPS AND FINANCIAL AID, CAPITAL PROJECTS, AND SPECIAL PROGRAMS. IN ESTABLISHING THIS POLICY, THE COLLEGE CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. THIS IS CONSISTENT WITH THE COLLEGE'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ITS ENDOWMENT. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR IMPOSED RESTRICTIONS REQUIRE THE COLLEGE TO RETAIN AS A FUND OF PERPETUAL DURATION. THE COLLEGE MAY APPROPRIATE FOR EXPENDITURE FROM THESE UNDERWATER ENDOWMENT FUNDS IN ACCORDANCE WITH THE PRUDENT MEASURES PRESCRIBED BY STATE LAW. AS OF JUNE 30, 2021, FUNDS WITH AN ORIGINAL GIFT VALUE OF $2,000 WERE UNDERWATER BY $426. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENT 183,036. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID 26,731,897. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | LOSS ON LIQUIDATION 3,224,056. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | FINANCIAL AID 26,731,897. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | Yes (1) | NondiscriminatoryPolicyStmtInd |
| Policy Stmt In Brochures Etc | Yes (1) | PolicyStmtInBrochuresEtcInd |
| Plcy Pblczd Via Broadcast Media | Yes (1) | PlcyPblczdViaBroadcastMediaInd |
| Maintain Racial Comp Recs | Yes (1) | MaintainRacialCompRecsInd |
| Maintain Scholarships Recs | Yes (1) | MaintainScholarshipsRecsInd |
| Maintain Cpy Of Brochures Etc | Yes (1) | MaintainCpyOfBrochuresEtcInd |
| Maintain Cpy Of All Sol | Yes (1) | MaintainCpyOfAllSolInd |
| Discriminate Race Stdnts Rghts | 0 | DiscriminateRaceStdntsRghtsInd |
| Discriminate Race Admiss Plcy | 0 | DiscriminateRaceAdmissPlcyInd |
| Discriminate Race Emplm Fculty | 0 | DiscriminateRaceEmplmFcultyInd |
| Discriminate Race Schs | 0 | DiscriminateRaceSchsInd |
| Discriminate Race Educ Plcy | 0 | DiscriminateRaceEducPlcyInd |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFcltsInd |
| Discriminate Race Athlt Prog | 0 | DiscriminateRaceAthltProgInd |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActyInd |
| Government Financial Aid Rcvd | Yes (1) | GovernmentFinancialAidRcvdInd |
| Government Financial Aid Rvkd | 0 | GovernmentFinancialAidRvkdInd |
| Compliance With Rev Proc7550 | Yes (1) | ComplianceWithRevProc7550Ind |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| SCHEDULE E, PART I, LINE 3 | 2020-2021 BECKER STUDENT HANDBOOK |
| SCHEDULE E, PART I, LINE 6 | BECKER COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE GOVERNMENT THROUGH GRANTS THAT ARE PROVIDED TO THE STUDENTS TO FUND THEIR EDUCATION. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | INSTITUTIONAL FINANCIAL AID | GrantTypeTxt |
| Recipient | 1660 | RecipientCnt |
| Cash Grant | $26,731,897 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | BECKER COLLEGE PARTICIPATES IN TITLE IV FUNDING. STUDENTS MUST COMPLETE THE FAFSA FORM IN ORDER TO APPLY FOR AID. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Travel For Companions | Yes (X) | TravelForCompanionsInd |
| Housing Allowance Or Residence | Yes (X) | HousingAllowanceOrResidenceInd |
| Club Dues Or Fees | Yes (X) | ClubDuesOrFeesInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NANCY CRIMMIN | ||||||||||||||
| PRESIDENT | $273,677 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $53,988 | $0 | $327,665 | $0 | $0 | $0 |
| DAVID A ELLIS | ||||||||||||||
| EXEC VP/CFO | $211,989 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17,988 | $0 | $229,977 | $0 | $0 | $0 |
| LORITA WILLIAMS | ||||||||||||||
| VP OF DEVELOPMENT | $196,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6,943 | $0 | $202,943 | $0 | $0 | $0 |
| ALAN RITACCO | ||||||||||||||
| DEAN OF DESIGN | $178,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6,943 | $0 | $184,943 | $0 | $0 | $0 |
| FRANK MILLERICK | ||||||||||||||
| VP OF STUDENT AFFAIRS | $145,172 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17,988 | $0 | $163,160 | $0 | $0 | $0 |
| RICHARD NAYLOR | ||||||||||||||
| CONTROLLER | $153,023 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $153,023 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 7 | FormAndLineReferenceDesc |
| Explanation | THE PRESIDENT RECEIVED A NON-TAXABLE HOUSING ALLOWANCE OF $36,000. | ExplanationTxt |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MA DEVELOPMENT FINANCE AGENCY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Issuer EIN | 042108346 | BondIssuerEIN |
| CUSIP | 57583RHA6 | CUSIPNum |
| Bond Issued | 2006-12-01 | BondIssuedDt |
| Issue Price | $11,445,000 | IssuePriceAmt |
| Purpose | BUILDING ON NEW DORM & ATHLETIC FIELD RENOVATION | PurposeDesc |
| Defeased | 0 | DefeasedInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Pool Financing | 0 | PoolFinancingInd |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Retired | $4,365,000 | RetiredAmt |
| Total Proceeds | $11,445,000 | TotalProceedsAmt |
| Issuance Costs From Proceeds | $290,838 | IssuanceCostsFromProceedsAmt |
| Working Capital Expenditures | $31,724 | WorkingCapitalExpendituresAmt |
| Capital Expenditures | $11,413,276 | CapitalExpendituresAmt |
| Substantial Completion | 2009 | SubstantialCompletionYr |
| Refunding Tax Exempt Bonds | 0 | RefundingTaxExemptBondsInd |
| Refunding Taxable Bonds | 0 | RefundingTaxableBondsInd |
| Final Allocation Made | Yes (1) | FinalAllocationMadeInd |
| Adequate Books And Rec Maint | Yes (1) | AdequateBooksAndRecMaintInd |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Owning Bond Financed Property | 0 | OwningBondFinancedPropertyInd |
| Any Lease Arrangements | 0 | AnyLeaseArrangementsInd |
| Mgmt Contract Bond Fincd Prop | 0 | MgmtContractBondFincdPropInd |
| Any Research Agreements | 0 | AnyResearchAgreementsInd |
| Bond Iss Meet Prvt Sec Pymt Test | 0 | BondIssMeetPrvtSecPymtTestInd |
| Change In Use Bond Financed Prop | 0 | ChangeInUseBondFinancedPropInd |
| Procs Nonqualified Bond Remdtd | 0 | ProcsNonqualifiedBondRemdtdInd |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Form8038 T Filed | 0 | Form8038TFiledInd |
| Rebate Not Due Yet | 0 | RebateNotDueYetInd |
| Exception To Rebate | 0 | ExceptionToRebateInd |
| No Rebate Due | 0 | NoRebateDueInd |
| Variable Rate Issue | Yes (1) | VariableRateIssueInd |
| Hedge Identified In Bks And Rec | Yes (1) | HedgeIdentifiedInBksAndRecInd |
Hedge Provider Name HedgeProviderName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SANTANDER BANK (2) | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 10.000000000000 | TermOfHedgePct |
| Superintegrated Hedge | 0 | SuperintegratedHedgeInd |
| Hedge Terminated | 0 | HedgeTerminatedInd |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGICInd |
| Gross Proceeds Invested | 0 | GrossProceedsInvestedInd |
| Written Proc To Monitor Reqs | Yes (1) | WrittenProcToMonitorReqsInd |
Procedures Corrective Action ProceduresCorrectiveActionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Bond Reference | A | BondReferenceCd |
| Procedures Corrective Action | 0 | ProceduresCorrectiveActionInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 3 | DURING 2020 AND 2021, THE COLLEGE'S FINANCIAL POSITION HAS BEEN NEGATIVELY IMPACTED BY THE CORONAVIRUS PANDEMIC AND THE BOARD OF TRUSTEES DETERMINED IN 2021 THAT CONTINUED OPERATION OF THE COLLEGE HAD BECOME IMPOSSIBLE DUE TO FINANCIAL AND OPERATIONAL CHALLENGES. IN MARCH 2021, THE BOARD OF TRUSTEES VOTED TO CEASE OPERATIONS OF THE COLLEGE EFFECTIVE JUNE 30, 2021, WITH TRANSITIONAL SERVICES PROVIDED TO STUDENTS THROUGH AUGUST 31, 2021. SUBSEQUENT TO JUNE 30, 2021, THE COLLEGE BEGAN THE PROCESS OF LIQUIDATING ASSETS AND SATISFYING THE LIABILITIES OF THE COLLEGE. REAL ESTATE OWNED BY THE COLLEGE IS INCLUDED IN ASSETS HELD FOR SALE ON THE STATEMENT OF NET ASSETS IN LIQUIDATION AND WAS SOLD IN THREE TRANSACTIONS TOTALING $32,131,853, WITH ALL SALES COMPLETED BY DECEMBER 31, 2021. PROCEEDS FROM THESE SALES WERE USED TO PAY LONG-TERM DEBT AND OTHER OBLIGATIONS IN THE COLLEGE. THE COLLEGE RECEIVED A FEDERAL GRANT FOR THE RENOVATION OF ONE OF THE BUILDINGS ON THE WORCESTER CAMPUS IN 2017. THE TERMS OF THE GRANT AGREEMENT STIPULATED THAT A PORTION OF THE FUNDING WOULD NEED TO BE REPAID UPON THE SALE OR DISCONTINUATION OF USE OF THE BUILDING. THIS PROPERTY WAS SOLD IN OCTOBER 2021, AT WHICH TIME THE REPAYMENT AMOUNT OF $432,000 WAS NEGOTIATED WITH THE FEDERAL AGENCY. THIS AMOUNT IS INCLUDED IN ACCRUED AND OTHER LIABILITIES ON THE STATEMENT OF NET ASSETS IN LIQUIDATION. THE COLLEGE OBTAINED APPROVAL FROM DONORS TO RELEASE THE RESTRICTIONS ON CERTAIN ENDOWED FUNDS TOTALING $1,094,786, ALLOWING THE COLLEGE TO USE THE FUNDS IN THE SATISFACTION OF LIABILITIES DURING THE LIQUIDATION PROCESS. THE COLLEGE'S REMAINING ENDOWED FUNDS AND DONOR-RESTRICTED ASSETS REMAIN UNAVAILABLE FOR USE IN LIQUIDATION, AND USE OF THESE FUNDS WILL BE DETERMINED WHEN THE COLLEGE IS DISSOLVED BY THE ATTORNEY GENERAL OF THE COMMONWEALTH OF MASSACHUSETTS. AN ACCRUAL WAS RECORDED ON JUNE 30, 2021, TO REFLECT THE REMAINING KNOWN LIABILITIES OF THE COLLEGE THROUGH THE DISSOLUTION DATE. ADDITIONAL EXPENSES MAY BE INCURRED DURING LIQUIDATION, AS THE FINAL DATE OF DISSOLUTION IS NOT YET KNOWN. |
| FORM 990, PART VI, SECTION B, LINE 11B | FORM 990 IS REVIEWED BY THE CFO AND THE FINANCE BOARD MEMBER, PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE BOARD OF DIRECTORS REVIEW THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ANNUALLY IN ORDER TO ENSURE THAT THE ORGANIZATION'S BOARD OF DIRECTORS, OFFICERS, AND EMPLOYEES ARE REGULARLY AND CONSISTENTLY MONITORING AND ENFORCING IT. |
| FORM 990, PART VI, SECTION B, LINE 15 | BENEFITS AND COMPENSATION FOR SENIOR MANAGEMENT ARE DETERMINED AFTER BENCHMARKING TOTAL COMPENSATION AT COMPARABLE INSTITUTIONS WITH SIMILAR POSITIONS. RESOURCES USED ARE THE CHRONICLE OF HIGHER EDUCATION, INSIDE HIGHER EDUCATION, COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA), THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS (NACUBO), COLLEGES OF THE WORCESTER CONSORTIUM AND THE SOUTHERN NEW ENGLAND COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION LIST SERVE. |
| FORM 990, PART VI, SECTION C, LINE 19 | INTERESTED PARTIES/QUESTIONS CONCERNING THE 990 ARE DIRECTED TO THE STATE'S WEBSITE. |
| FORM 990, PART XI, LINE 9: | UNREALIZED GAIN ON INTEREST RATE SWAP AGREEMENTS 183,036. LOSS ON LIQUIDATION -3,224,056. |